US witnesses 3.1% rise in holiday retail sales

US retail sales rose 3.1 per cent between Nov. 1 and Dec. 24, rounding up a majority of the holiday sales for retailers, as shoppers looked for last-minute Christmas deals amid big promotions.

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The increase is lower than the 3.7 per cent growth Mastercard forecast in September and has slumped from last year's 7.6 per cent.

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Some of those discounts were rolled back starting in December when customers had expected to buy last-minute gifts and household goods on the Saturday before Christmas - dubbed "Super Saturday".

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E-commerce sales grew at a slower pace of 6.3 per cent from last year's 10.6 per cent as the popularity of online shopping came off pandemic highs, the report showed.

Source: Unsplash